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SHIJIAZHUANG, May 12 (Xinhua) -- The brand of Sanlu Group, the dairy company embroiled in China's tainted-milk scandal, was sold at an auction Tuesday for 7.3 million yuan (1.07 million U.S. dollars), court officials said.     An unidentified individual entrepreneur from south China won the bid at an auction in the Shijiazhuang Intermediate People's Court in northern Hebei Province. No further information about the bidder was released.     The auction started at 7 million yuan and drew three bids from only two bidders.     The "Sanlu" brand was worth 14.9 billion yuan in 2006, according to the China Brand Asset Evaluation Center.     Sanlu Group, which was based in Shijiazhuang, had been China's leading seller of milk powder for 15 years until the melamine adulteration scandal broke last September. The group's revenue hit 10 billion yuan in 2007.     The company's tainted baby milk powder was found to have caused the deaths of at least six children and sickened more than 300,000others.     Beijing-based dairy producer Sanyuan bought the core assets of Sanlu, which went bankrupt in February, for 616.5 million yuan at an auction on March 4.     Also Tuesday, Sanlu sold 51-percent stakes in three dairy companies for 22.8 million yuan. The purchasers' identities were not immediately known.     But it failed to sell 51 percent stakes in another two dairy firms and withdrew 12 patent techniques from auction.     The bankruptcy trustee is to announce plans to dispose of Sanlu's last remaining assets, which include a 51-percent stake in a third dairy firm in Hebei's Baoding City

SHIJIAZHUANG, May 12 (Xinhua) -- The brand of Sanlu Group, the dairy company embroiled in China's tainted-milk scandal, was sold at an auction Tuesday for 7.3 million yuan (1.07 million U.S. dollars), court officials said.     An unidentified individual entrepreneur from south China won the bid at an auction in the Shijiazhuang Intermediate People's Court in northern Hebei Province. No further information about the bidder was released.     The auction started at 7 million yuan and drew three bids from only two bidders.     The "Sanlu" brand was worth 14.9 billion yuan in 2006, according to the China Brand Asset Evaluation Center.     Sanlu Group, which was based in Shijiazhuang, had been China's leading seller of milk powder for 15 years until the melamine adulteration scandal broke last September. The group's revenue hit 10 billion yuan in 2007.     The company's tainted baby milk powder was found to have caused the deaths of at least six children and sickened more than 300,000others.     Beijing-based dairy producer Sanyuan bought the core assets of Sanlu, which went bankrupt in February, for 616.5 million yuan at an auction on March 4.     Also Tuesday, Sanlu sold 51-percent stakes in three dairy companies for 22.8 million yuan. The purchasers' identities were not immediately known.     But it failed to sell 51 percent stakes in another two dairy firms and withdrew 12 patent techniques from auction.     The bankruptcy trustee is to announce plans to dispose of Sanlu's last remaining assets, which include a 51-percent stake in a third dairy firm in Hebei's Baoding City

YEKATERINBURG, Russia, June 16 (Xinhua) -- Chinese President Hu Jintao Tuesday presented a four-point proposal for dealing with the ongoing global financial crisis at the first summit meeting of BRIC countries which groups Brazil, Russia, India and China.     First, BRIC countries should commit themselves to bringing about an early recovery of the world economy, Hu said. "We should work hard to overcome the difficulties and try to take the lead in recovering from the global financial crisis," he said, adding "This is not only for our own need, but also contributes to world economic recovery." Chinese President Hu Jintao (2nd R) poses for a group photo together with Brazilian President Luiz Inacio Lula da Silva (1st L), Russian President Dmitry Medvedev (2nd L), and Indian Prime Minister Manmohan Singh during the first formal meeting of BRIC (Brazil, Russia, India and China) leaders in Yekaterinburg, Russia, on June 16, 2009    BRIC countries should solve the long-existing structural problems in their economic development and change their development pattern in an effort to improve the quality and level of their economic development , while striving to resume world economic growth.     He also urged BRIC countries to continue to open their markets, make use of their mutually complementary strength and expand economic and trade cooperation.     "We should also firmly oppose protectionism, jointly safeguard the normal and orderly flow of commodities, services and personnel worldwide, and help ensure that the Doha round of global trade talks would achieve a comprehensive and balanced outcome as soon as possible," he added. The first summit meeting of BRIC (Brazil, Russia, India and China) leaders is held in Yekaterinburg, Russia, on June 16, 2009.Second, BRIC countries should commit themselves to pushing forward the reform of international financial system, Hu said.     To establish a new international financial order that is fair, equitable, inclusive and well-managed, and provide guarantee for the sustainable development of the global economy in terms of system and mechanism conforms with the trend of the historical development and is in the fundamental interest of all parties, he said.     BRIC countries should improve the international financial supervision mechanism and ensure the effective participation of the developing countries in world financial supervision organizations such as the Financial Stability Board, Hu said.     Third, BRIC countries should commit themselves to implementing the UN Millennium Development Goals (MDGs), the president said.     The international community should not overlook development issues and cut the input for development while dealing with global financial crisis, he said.     Instead, it should pay close attention to the impact that the crisis has left on developing countries, especially the least developed ones, he added. Chinese President Hu Jintao attends the first summit meeting of BRIC (Brazil, Russia, India and China) leaders in Yekaterinburg, Russia, on June 16, 2009The BRIC countries should call on all parties to continue to implement the MDGs and urge the developed economies to fulfil their commitment to assistance, he added.     Fourth, BRIC countries should commit themselves to ensuring the security of food, energy resource, and public health, he added.     He said while tackling the ongoing global financial crisis, efforts should be made to properly handle some outstanding problems that hinder development, such as climate change, food, energy, resource and public health security. A long-term approach and overall plan should be adopted to take all factors into consideration as these issues bear on the wellbeing of all peoples in the world and their overall interests, he added.     He also urged BRIC countries to increase investment in agriculture, develop advanced agricultural technique and curb market speculation. He also called for greater food assistance and closer agricultural and food cooperation.     "We should also accelerate our efforts in developing clean and renewable energy, and establish advanced research and promotion systems in a bid to diversity our energy supply," Hu said.     He urged the four countries to strengthen information exchanges and communication, share the experience on epidemics preventions and control, and work together to develop and share vaccines, and cooperate in pandemic control and prevention.

BEIJING, July 7 (Xinhua) -- Chinese banks have been active in transacting yuan cross-border settlement after the first deal was made Monday.     The Industrial and Commercial Bank of China (ICBC) said Tuesday it had dealt with yuan cross-border settlement totaling 17 million yuan (2.49 million U.S. dollars) in two days.     Many banks in Guangdong Province were active in dealing with yuan cross-border settlement. The Bank of China Guangdong branch transacted yuan cross-border settlement totaling 7.96 million yuan (1.17 million U.S. dollars) Tuesday.     "Guangdong Province has a large economic scale and is highly dependent on foreign trade. Yuan cross-border settlement could help enterprises avert exchange rate risks and reduce costs," said Cao Licong, deputy governor of the BOC Guangdong branch.     "The service is favored by enterprises and will be promising in the future," said Hu Ye, deputy governor of the ICBC Guangdong branch.     China launched its first yuan cross-border settlement Monday.     China's State Council, or Cabinet, announced in April a pilot program to allow exporters and importers in Shanghai, and southern Guangzhou, Shenzhen, Zhuhai and Dongguan cities to settle cross-border trade deals in Renminbi (RMB), or yuan.     China last week issued detailed regulations for the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using yuan to settle trade with Hong Kong and Macao and regional trade partners.

BEIJING, July 2 (Xinhua) -- Chinese Vice Premier Zhang Dejiang on Thursday called for technical upgrades to enhance workplace safety and improve emergency rescue systems.     When visiting an exhibition on workplace safety and emergency rescue equipment held by the State Administration of Work Safety, Zhang pointed out that workplace safety is closely related to the interests of the people and the country.     China has kept increasing spending on technical improvements to better workplace safety with advanced equipment, which has played an important role in accident prevention and emergency rescue, he said.     Zhang called for more efforts in technical innovation, scientific management, well-trained rescue teams, and improved emergency rescue systems to improve workplace safety.